Generally there are three categories of multifamily investment properties – which will greatly determine your loan options.These three categories are based on the number of units at the property.2-4 Units: While these are “multifamily” properties in the sense that there are “multiple units” – you will generally have very similar options for financing to traditional residential loans on single family rentals – think the traditional 30-year fixed rate conventional option or DSCR Loans – and the coveted 20% down payment option too.

Buy if the deal makes sense based on numbers. 

It has the least flood risk.I haven't had an appraisal done, but the property tax we pay keeps increasing based on the estimated property value.

The purchase price and the rents will be lower, but the ratio of the two will draw closer together. 

Clark, 36 A.2d 631, 632 (N.H. 1944)So based on those quotes, your scenario @Collin H. wouldn't constitute gross negligence.

There are so many caveats and unknowns here that this is just an attempt at an idea...Option 1, the four grandchildren living in the property buy out the other two:-Estimate your PITI payments based on the expected payout to the 2 grandchildren being bought out.

The mortgage payment is based on the interest rate and term. 

State income taxes are usually based on the gain or loss from each state, so you pay taxes on your gain in Illinois.

Hello, I am looking for a Maine based attorney to handle a private mortgage contract. any recommendations?

Again just covering my bases...thanks